King Luther Capital Management Corp Boosts Stake in Range Resources Co. (NYSE:RRC)

King Luther Capital Management Corp grew its stake in shares of Range Resources Co. (NYSE:RRC) by 79.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,020 shares of the oil and gas exploration company’s stock after buying an additional 13,700 shares during the period. King Luther Capital Management Corp’s holdings in Range Resources were worth $1,040,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in shares of Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after acquiring an additional 299 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its stake in shares of Range Resources by 17.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after purchasing an additional 325 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Range Resources by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after purchasing an additional 350 shares during the last quarter. Orser Capital Management LLC grew its holdings in shares of Range Resources by 0.8% during the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock worth $1,867,000 after buying an additional 427 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. raised its position in shares of Range Resources by 6.0% in the second quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock valued at $357,000 after buying an additional 600 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Trading Up 0.3 %

NYSE:RRC opened at $30.61 on Monday. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33. The business’s 50-day moving average is $30.40 and its two-hundred day moving average is $33.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $7.43 billion, a PE ratio of 15.54 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. During the same period in the previous year, the company posted $0.27 EPS. Range Resources’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that Range Resources Co. will post 2.07 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s payout ratio is 16.24%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RRC shares. Morgan Stanley decreased their target price on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research report on Monday, September 16th. Jefferies Financial Group upped their target price on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target on the stock in a research note on Tuesday, August 20th. Wells Fargo & Company lowered their price target on Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price objective on shares of Range Resources in a report on Thursday, July 25th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.10.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.